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Fair Value (Tables) | 6 Months Ended
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Jun. 30, 2023
Fair Value |
Balances of Assets And Liabilities Measured at Fair Value on Recurring Basis | The tables below present the balances of assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at June 30, 2023
​ | ​ | ​ | ​ | ​ | Quoted Prices in | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Assets/Liabilities | ​ | Active Markets | ​ | Significant Other | ​ | Significant
​ | ​ | Measured at Fair | ​ | for Identical | ​ | Observable | ​ | Unobservable
(In thousands) |  | Value |  | Assets (Level 1) |  | Inputs (Level 2) |  | Inputs (Level 3)
Measured on a recurring basis: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Debt securities available for sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Government sponsored entities | ​ | $ | 16,248 | ​ | $ | — | ​ | $ | 16,248 | ​ | $ | —
State and political subdivisions | ​ | ​ | 586 | ​ | ​ | — | ​ | ​ | 586 | ​ | ​ | —
Residential mortgage-backed securities | ​ |  | 14,676 | ​ |  | — | ​ |  | 14,676 | ​ |  | —
Corporate and other securities | ​ |  | 61,456 | ​ |  | — | ​ |  | 57,125 | ​ |  | 4,331
Total debt securities available for sale | ​ | $ | 92,966 | ​ | $ | — | ​ | $ | 88,635 | ​ | $ | 4,331
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity securities with readily determinable fair values | ​ |  | 8,205 | ​ |  | 8,205 | ​ |  | ​ | ​ |  | —
Total equity securities | ​ | $ | 8,205 | ​ | $ | 8,205 | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap agreements | ​ |  | 1,402 | ​ |  | — | ​ |  | 1,402 | ​ |  | —
Total swap agreements | ​ | $ | 1,402 | ​ | $ | — | ​ | $ | 1,402 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair value Measurements at December 31, 2022
​ | ​ | ​ | ​ | ​ | Quoted Prices in | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Assets/Liabilities | ​ | Active Markets | ​ | Significant Other | ​ | Significant
​ | ​ | Measured at Fair | ​ | for Identical | ​ | Observable | ​ | Unobservable
(In thousands) |  | Value |  | Assets (Level 1) |  | Inputs (Level 2) |  | Inputs (Level 3)
Measured on a recurring basis: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Debt securities available for sale: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. Government sponsored entities | ​ | $ | 16,305 | ​ | $ | — | ​ | $ | 16,305 | ​ | $ | —
State and political subdivisions | ​ |  | 613 | ​ | ​ | — | ​ | ​ | 613 | ​ | ​ | —
Residential mortgage-backed securities | ​ |  | 15,475 | ​ |  | — | ​ |  | 15,475 | ​ |  | —
Corporate and other securities | ​ |  | 63,000 | ​ |  | — | ​ |  | 58,325 | ​ |  | 4,675
Total debt securities available for sale | ​ | $ | 95,393 | ​ | $ | — | ​ | $ | 90,718 | ​ | $ | 4,675
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity securities with readily determinable fair values | ​ |  | 9,793 | ​ |  | — | ​ |  | 9,793 | ​ |  | —
Total equity securities | ​ | $ | 9,793 | ​ | $ | — | ​ | $ | 9,793 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap agreements | ​ |  | 1,537 | ​ |  | — | ​ |  | 1,537 | ​ |  | —
Total swap agreements | ​ | $ | 1,537 | ​ | $ | — | ​ | $ | 1,537 | ​ | $ | —
Assets and Liabilities Carried on the Balance Sheet by Caption And By Level Within The Hierarchy | The following tables present the assets and liabilities subject to fair value adjustments on a non-recurring basis carried on the balance sheet by caption and by level within the hierarchy (as described above): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at June 30, 2023
​ | ​ | ​ | ​ | ​ | Quoted Prices | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | in Active | ​ | Other | ​ | Significant
​ | ​ | Assets/Liabilities | ​ | Markets for | ​ | Observable | ​ | Unobservable
​ | ​ | Measured at Fair | ​ | Identical Assets | ​ | Inputs | ​ | Inputs
(In thousands) |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Measured on a non-recurring basis: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Financial assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
OREO | ​ | $ | 251 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 251
Collateral-dependent loans | ​ | $ | 11,558 | ​ | $ | — | ​ | $ | — | ​ | $ | 11,558
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurements at December 31, 2022
​ | ​ | ​ | ​ | ​ | Quoted Prices | ​ | Significant | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | in Active | ​ | Other | ​ | Significant
​ | ​ | Assets/Liabilities | ​ | Markets for | ​ | Observable | ​ | Unobservable
​ | ​ | Measured at Fair | ​ | Identical Assets | ​ | Inputs | ​ | Inputs
(In thousands) |  | Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
Measured on a non-recurring basis: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Financial assets: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Collateral-dependent loans | ​ |  | 8,803 | ​ |  | — | ​ |  | — | ​ |  | 8,803
Carrying Amount and Estimated Fair Values of Financial Instruments | The table below presents the carrying amount and estimated fair values of the Company’s financial instruments presented as of June 30, 2023 and December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | June 30, 2023 | ​ | December 31, 2022
​ | ​ | Fair value | ​ | Carrying | ​ | Estimated | ​ | Carrying | ​ | Estimated
(In thousands) |  | level |  | amount |  | fair value |  | amount |  | fair value
Financial assets: |  |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Securities (1) |  | Level 2 | ​ |  | 137,061 | ​ |  | 130,435 | ​ |  | 140,946 | ​ |  | 133,764
SBA loans held for sale |  | Level 2 | ​ |  | 20,074 | ​ |  | 25,031 | ​ |  | 27,928 | ​ |  | 30,141
Loans, net of allowance for credit losses (2) |  | Level 2 | ​ |  | 2,121,305 | ​ |  | 2,032,930 | ​ |  | 2,053,435 | ​ |  | 1,990,010
Financial liabilities: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Deposits |  | Level 2 | ​ |  | 1,849,528 | ​ |  | 1,719,293 | ​ |  | 1,787,528 | ​ |  | 1,772,270
Borrowed funds and subordinated debentures |  | Level 2 | ​ |  | 433,310 | ​ |  | 431,459 | ​ |  | 393,310 | ​ |  | 391,312
​
(1) | Includes corporate securities that are considered Level 3 and reported separately in the table under the “Fair Value on a Recurring Basis” heading. These securities had book values of $5.3 million and market values of $4.3 million. Additionally, includes equity securities with readily determinable fair values of $8.2 million.
(2) | Includes collateral-dependent loans that are considered Level 3 and reported separately in the tables under the “Fair Value on a Nonrecurring Basis” heading. Collateral-dependent loans, net of specific reserves totaled $11.8 million and $8.8 million at June 30, 2023 and December 31, 2022, respectively.

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI https://asc.fasb.org/extlink&oid=126976982&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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